JPMorgan appoints Kaku Nakhate

Mumbai: JPMorgan Chase and Co. said Wednesday it has appointed Kaku Nakhate, previously head of global markets at DSP Merrill Lynch’s India unit, as vice chairperson of its local operations.

Nakhate will be responsible for the equities, equity derivatives, futures and options and world securities services franchises in India, JPMorgan said in an emailed statement.

Kalpana Morparia, chief executive of JPMorgan India, said Nakhate would be responsible for developing growth plans for these businesses. The firm has also named Manish Prasad and Avinash Gupta, both from DSP Merrill Lynch, as co-heads of equities and futures and options.